Popular crypto strategist and former Wall Street trader Max Keiser says bitcoin will continue on a massive rally in 2021 that could take the price above $200,000.
Speaking in an interview with Stansberry Research, Keiser said he expects bitcoin’s price to appreciate six-fold in 2021, bringing the cryptoasset’s market capitalization more in line with that of gold.
He said,
I’m going with $220,000 per Bitcoin as a 2021 target and that would bring us up to $4 trillion-dollar market valuation which I think is a good 2021 objective. We are going to catch up to gold. That would bring us up to not quite half gold’s valuation but getting close to gold’s valuation.
Keiser pointed to a collapse in central banks as the primary catalyst for bitcoin’s price run. He also alluded to the fallout from trillions of new dollars being printed to stimulate the economy as going “absolutely Weimar Republic.”
The popular crypto bull predicted turmoil ahead for global economies, calling central banks highly leveraged and on the verge of collapse, with positive ramifications for bitcoin.
He explained,
These banks are leveraged 50, 60, 70 to one… One of them is going to collapse in 2021 and that will start an avalanche. Out [with] fiat money and paper money and the top beneficiary of that will be Bitcoin.
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